Overstock.com retires $2.5 million of 3.75% convertible senior notes

By Jennifer Chiou

New York, July 22 - Overstock.com, Inc. announced the purchase and retirement of $2.5 million of its 3.75% convertible senior notes during the second quarter ended June 30.

The company said that it reported income of $2.7 million during the first two quarters of 2009 due primarily to gains from the early extinguishment of the notes. It recorded a gain of $884,000 for the most recently reported repurchase.

The company bought back $4.9 million of the notes during the first quarter.

Overstock.com is an online close-out retailer based in Salt Lake City.

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